Earn Pendle (PENDLE) Tokens on Binance by Staking BNB and TUSD

The Binance cryptocurrency exchange has announced that Pendle (PENDLE) will be the next project featured on its Launchpool platform. This means that eligible users (KYC is required) will be able to earn PENDLE tokens by staking BNB and/or TUSD tokens.

The PENDLE farming period will begin on July 4, 2023 at 00:00 UTC and will last for a period of 25 days. The farming period will end on July 28 at 23:59 UTC.

Farm PENDLE tokens on Binance

Binance plans to distribute just over 5 million PENDLE tokens through the Launchpool program. This allocation corresponds to 2% of the PENDLE token supply (251 million tokens).

4.01 million PENDLE tokens will be distributed to BNB stakers, while the remaining 1 million PENDLE will go to TUSD stakers. The amount of PENDLE each user will receive will depend on two factors: the size of their stake in proportion to the size of the respective staking pool, as well as the staking duration.

In addition to revealing the PENDLE farming program on its Launchpool platform, Binance has also announced that it will list the PENDLE token in trading pairs against Bitcoin, USDT and TUSD. 

Binance Launchpool is a great way to farm new tokens while taking on minimal risk. This is because users can choose to unstake their tokens at any time. Unstaked tokens become available for use immediately.

What is Pendle (PENDLE)?

Pendle is a DeFi (decentralized finance) protocol that enables yield trading. The Pendle protocol splits yield-bearing assets into a principal token (PT) and a yield token (YT). 

Pendle users can maximize their yield by increasing their exposure during bullish periods, or hedge against decreasing yields which are typical in bear markets. Pendle allows users to access advanced yield strategies including fixed yield, long yield or a mix of the two. 

The protocol implements a utility token called PENDLE, which has various functions in the protocol. It incentivizes liquidity, provides voting rights, and PENDLE holders also receive a portion of the fees generated by the Pendle protocol. 

How to farm PENDLE tokens on Binance?

If you want to farm Pendle tokens, the first thing you’ll need is a Binance account.

Create Binance Account

Please keep in mind that only users who complete an identity verification process with Binance are eligible to participate in Pendle token farming on Binance Launchpool.

Once you account is ready, you’ll need some BNB or TUSD tokens to stake. If you already own these tokens, you can deposit some to your Binance account. Otherwise, Binance offers plenty of ways of buying these tokens with either crypto or fiat.

After your account is verified and loaded up with some BNB, TUSD, or both, head over to the menu in the top side of the Binance interface and select “Earn”. Then, go to “Launchpad”.

Then, scroll down to the “Launchpool” section and you’ll be able to find the available PENDLE farming pools. Depending on which tokens you want to stake, select the TUSD Pool or the BNB Pool. Then, follow the instructions provided by the exchange.